PennantPark: Fiscal Q1 Earnings Snapshot

MIAMI (AP) — MIAMI (AP) — PennantPark Investment Corp. (PNNT) on Wednesday reported fiscal first-quarter net income of $10.7 million.

On a per-share basis, the Miami-based company said it had net income of 16 cents. Earnings, adjusted for non-recurring costs, were 24 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The business development company posted revenue of $34.3 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $32.5 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNNT at https://www.zacks.com/ap/PNNT